SmartStop Self Storage REIT Inc
For the period ended Dec 31, 2024. Filed Mar 12, 2025.
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FY2024 · Filed Mar 12, 2025
SMA$39.69+2.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations
| Year EndedDecember 31,2024 | Year EndedDecember 31,2023 | Year EndedDecember 31,2022 | |
|---|---|---|---|
| Revenues: | |||
| Self storage rental revenue | $209,579 | $206,494 | $191,750 |
| Ancillary operating revenue | 9,397 | 8,827 | 8,446 |
| Managed REIT Platform revenues | 11,383 | 11,906 | 7,819 |
| Reimbursable costs from Managed REITs | 6,647 | 5,765 | 4,628 |
| Total revenues | 237,006 | 232,992 | 212,643 |
| Operating expenses: | |||
| Property operating expenses | 70,684 | 65,363 | 58,437 |
| Managed REIT Platform expenses | 3,982 | 3,365 | 2,485 |
| Reimbursable costs from Managed REITs | 6,647 | 5,764 | 4,628 |
| General and administrative | 29,948 | 27,452 | 28,254 |
| Depreciation | 55,175 | 53,636 | 49,418 |
| Intangible amortization expense | 935 | 6,594 | 15,201 |
| Acquisition expenses | 413 | 193 | 888 |
| Contingent earnout adjustment | — | — | 1,514 |
| Write-off of equity interest and preexisting relationships upon acquisition of control | — | — | 2,050 |
| Total operating expenses | 167,784 | 162,367 | 162,875 |
| Gain on equity interests upon acquisition | — | — | 16,101 |
| Income from operations | 69,222 | 70,625 | 65,869 |
| Other income (expense): | |||
| Equity in earnings (losses) from investments in JV Properties | (1,380) | (1,625) | (760) |
| Equity in earnings (losses) from investments in Managed REITs | (1,414) | (1,273) | (930) |
| Other, net | (1,282) | (231) | (998) |
| Interest income | 3,247 | 3,360 | 1,838 |
| Interest expense | (72,325) | (61,805) | (41,512) |
| Loss on debt extinguishment | (471) | — | (2,393) |
| Income tax (expense) benefit | (1,484) | 2,596 | 555 |
| Net income (loss) | (5,887) | 11,647 | 21,669 |
| Net (income) loss attributable to noncontrolling interests | 266 | (1,893) | (2,847) |
| Less: Distributions to preferred stockholders | (12,758) | (12,500) | (12,500) |
| Net income (loss) attributable to SmartStop Self Storage REIT, Inc. common stockholders | $(18,379) | $(2,746) | $6,322 |
| Net income (loss) per Class A & Class T share – basic | $(0.20) | $(0.03) | $0.07 |
| Net income (loss) per Class A & Class T share – diluted | $(0.20) | $(0.03) | $0.07 |
| Weighted average Class A shares outstanding – basic | 88,427,383 | 88,706,340 | 83,857,222 |
| Weighted average Class A shares outstanding – diluted | 88,427,383 | 88,706,340 | 83,974,488 |
| Weighted average Class T shares outstanding – basic | 8,130,270 | 8,101,599 | 8,081,950 |
| Weighted average Class T shares outstanding – diluted | 8,130,270 | 8,101,599 | 8,081,950 |
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